SBI Backed Cashfree Payments Has Made Its Second Acquisition Through Zecpe

0
64

Payments gateway platform Cashfree Payments has acquired one-click checkout platform Zecpe for an undisclosed quantum.   Zecpe, which enables e-commerce businesses to ameliorate checkout conversion by making the process quick for  guests, will operate as a wholly-possessed attachment of Cashfree Payments, the company said in a media statement on February 28. Zecpe enables e-commerce businesses to ameliorate checkout conversion by making the process quick and  flawless for guests.

Zecpe will now operate as a wholly-owned attachment of Cashfree Payments, according to a statement issued by the company. The CEO and cofounder of Cashfree Payments, Akash Sinha, said that Zecpe’s accession will be an addition to the company’s D2C Payments Suite enabled for ecommerce businesses. “ We’re certain that this accession will strengthen our D2C one- click checkout capabilities and elevate our leadership position in the SMB space, ” Sinha said. Zecpe helps merchandisers increase conversion rates, supporting incremental monetisation and scaling.

This accession will also enable Cashfree Payments to offer fresh value- added services like Return to Origin (RTO) reduction, fraud discovery, and address pre-filling, among others. “ D2C space is exploding in India and presents a fantastic  opportunity to help e-commerce players increase their conversion rates and reduce COD fraud and returns. Since we’ve one of the largest networks of prominent brands working with us, we know this space  veritably well, ” Agarwal said. Cashfree Payments claims to have further than  merchandisers to collect payments and make payouts via all available styles. The company had before acquired Telr, a leading payment service provider in the UAE and Saudi Arabia, as a part of its strategy to expand its footmark in the Middle East North Africa region.

As a result of the accession of Zecpe, Cashfree Payments will probably expand its range of value- added services, including reducing Return to Origin (RTO) rates, detecting fraud, andpre-filling addresses. This is because Zecpe’s one-click checkout platform is designed to ameliorate the client experience during the checkout process, which can reduce RTO rates and the  eventuality for fraud discovery. Also, the platform can automatically fill in a client’s address information, making the checkout process more flawless.